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Paying off mortgage

Is there a property tax involved thereafter?

thanasisk
post 3.Aug.2020, 05:42 PM
Post #1
Joined: 3.Aug.2020

Hi everyone.

Long time lurker in these forums, but first time poster. I was wondering if someone could shed some light as to what happens when a mortgage is paid off. Is there a property tax, and if so, how much is it?

I am trying to work out if it's beneficial for me to pay off my mortgage. Thanks so much!
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john.boy
post 6.Aug.2020, 12:17 PM
Post #2
Location: Stockholm county
Joined: 27.Sep.2017

If your property is currently liable for property tax, then it will continue to be liable for property tax. Having a mortgage or not does not change the fact a property is taxed or not.
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nativeswedishengineer
post 6.Aug.2020, 01:07 PM
Post #3
Joined: 7.Nov.2017

QUOTE (thanasisk @ 3.Aug.2020, 06:42 PM) *
Hi everyone. Long time lurker in these forums, but first time poster. I was wondering if someone could shed some light as to what happens when a mortgage is paid off. Is there ... (show full quote)


You het to deduct a certain percentage of the interest on the mortage from your taxable income but that is about it.
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Mrs Robinsson
post 6.Aug.2020, 09:32 PM
Post #4
Location: Canada
Joined: 25.Jan.2012

Congrats on paying off your mortgage!! This is very admirable.

Sweden is set up for the vast majority to NEVER pay of their mortgages, just pay interest only and a tiny slice of principle. Plus, taxes are so high that most will never even contemplate owning their homes.

I hope you enjoy being a real homeowner, instead of renting from the bank.
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thanasisk
post 9.Aug.2020, 11:15 AM
Post #5
Joined: 3.Aug.2020

Thanks everyone - from what I gather from the responses, it wouldn't cost more that what we currently pay in taxes. @Mrs Robinsson, thanks, you should have seen the bank guys face when I told him that we would pay off the mortgage - he was definitely not expecting it rolleyes.gif
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